Miche Jean, Formerly of Morgan Stanley, Named in Complaint by FINRA Alleging Failure to Appear for Testimony

INVESTORS: Former Morgan Stanley broker Miche Jean was named in a complaint by FINRA alleging failure to appear for testimony.

Miche Jean (CRD: 5918186) was registered as a broker with Morgan Stanley from 2015 until 2020. Jean has no other securities experience.

Jean has seven disclosures on his BrokerCheck report. One customer dispute filed against Jean was denied and one was withdrawn.

March 2023 Regulatory Judgment

Status: Pending

Initiated By: FINRA

Allegations: Jean was named a respondent in a FINRA complaint alleging that he failed to provide information and documents and appear for on-the-record testimony requested by FINRA in connection with its investigation into whether he converted money from his customer through fraudulent ACH transfers to pay his personal credit card.

September 2022 Regulatory Judgment

Status: Final

Initiated By: FINRA

Allegations: Without admitting or denying the findings, Jean consented to the sanctions and to the entry of findings that he exercised discretionary power in the accounts of customers without obtaining prior written authorization from the customers or prior written approval by his member firm. The findings stated that Jean also communicated with firm customers about securities-related business through text messages using his personal cellular phone, without the firm’s authorization or approval. Jean did not provide these messages to the firm, and he subsequently deleted them. As a result, the firm did not capture or preserve these messages.

Resolution: Acceptance, Waiver & Consent (AWC)

Sanctions: Civil and Administrative Penalty(ies)/Fine(s)

Amount: $10,000.00

Sanctions: Suspension

Registration Capacities Affected: All Capacities

Duration: Two Months

Start Date: 10/3/2022

End Date: 12/2/2022

September 2022 Regulatory Judgment

Status: Final

Initiated By: Maryland

Allegations: Respondent violated sections 11-302(a)(1), (a)(2) and (a)(3), and 11-306 of the Maryland Securities Act by fraudulently initiating four separate ACH transfers from a customer’s brokerage account to pay for Respondent’s personal Discover credit card, and by failing to disclose his fraudulent acts to his customer, who was unaware of the fraudulent transfers until later notified by Morgan Stanley.

Resolution: Consent 

Bar: Bar (Permanent)

Registration Capacities Affected: Investment Adviser, Investment Adviser Representative, Broker-dealer, Agent

Start Date: 11/15/2022

Sanctions: Cease and Desist

Sanctions:  Civil and Administrative Penalty(ies)/Fine(s)

Amount: $10,000.00

Sanctions: Revocation

March 2021 Customer Dispute

Status: Settled

Allegations: Client alleged, inter alia, unauthorized trading with respect to exchange traded funds. – February 2020 to May 2020.

Settlement Amount: $35,000.00

October 2010 Employment Separation After Allegations

Firm Name: MSWM

Termination Type: Discharged

Allegations: Allegations regarding employee’s potential exercise of unauthorized discretion, trading patterns, and communications with clients.

The Sonn Law Group is currently investigating allegations surrounding Miche Jean. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.